Now make the following assumptions: Sales are expected to increase by 20 percent in Year 1. Operating costs are expected to increase to 74 percent of sales. Fixed assets are being used at 90 percent of capacity. Fixed assets are lumpy. If the firm must add fixed assets, it must add a lump-sum of $2,000,000. Fixed assets are currently being depreciated on a straight line basis over a 10-year period. New fixed assets will also be depreciated on a straight line basis over 10 years. All current assets and spontaneous liabilities can be expressed as a percent of sales and will grow proportionately with sales. At the start of the coming year, notes payable and long-term debt will not initially change. However, the notes payable account will be used to fund the AFN for the second pass. The before-tax interest rate or notes payable and long-term debt is currently 8 percent. Over the coming year it will remain at 8% for the long-term debt, but will increase to 12% for the notes payable. The tax rate will remain at 40 percent. The firm will increase its dividend payout rate from 40 percent to 45 percent of net income in Year 1, regardless of whether any new equity is issued. Using the spreadsheet method, and given the information above, do a first pass and calculate the additional funds needed. Then, do a second pass, assuming that AFN is handled through the notes payable account. Given this information, determine the remaining AFN after the second pass. Enter your answer in dollars and cents, rounded to the nearest cent, with no punctuation other than the decimal place. For example, if your answer is $1,599.42, enter "1599.42". Note that Canvas may reformat this to "1,599.42".